Nifty rebounds 72 pts on earnings lift

Benchmark Nifty rebounded 72 points today on robust buying in key pharma, metal and FMCG counters following better-than-expected corporate earnings.
FMCG stocks rallied after Hindustan Unilever posted over 9 per cent rise in June quarterly results.
Pharma index zoomed after Aurobindo Pharma said it has received final approval from the USFDA to manufacture and market Sevelamer Carbonate tablets in the American market.
Bargain-hunting in overnight losers also lifted the index.
Overseas, Asian markets ended higher on optimism surrounding China's economy.
European bourses were trading higher in their afternoon trade as investors took stock of a series of corporate announcements from across the continent.

The Nifty opened higher at 9,855.95 and traded between 9,905.05 and 9,851.65 before settling at 9,899.60, a gain of 72.45 points, or 0.74 per cent. It saw an intra-day movement of about 53.40 points.

The key index lost 88.80 points in its previous session.
Sector-wise, Pharma rallied 2.10 per cent, followed by Metal (1.94 per cent), Media (1.86 per cent), FMCG (1.44 per cent), Realty (1.35 per cent), Energy (0.94 per cent), PSU Bank (0.86 per cent), IT (0.86 per cent), Bank (0.54 per cent) and Auto (0.53 per cent).
The midcap and smallcap indices also gained 0.70 per cent and 1.74 per cent, respectively.

Major index gainers were Aurobindo Pharma (4.30 per cent), Bharti Airtel (3.17 per cent), Hindalco (2.92 per cent), Zee (2.81 per cent) and Coal India (2.49 per cent).
Losers included Ultratech Cement (2.89 per cent), ACC (1.42 per cent), Bharti Infratel (0.73 per cent), Ambuja Cement (0.62 per cent) and Infosys (0.58 per cent).
A total of 1,121 scrips gained, 544 advanced, while 91 remained unchanged. Total securities that hit their price bands were 107.
Turnover in the cash segment declined to Rs 27,627.18 crore from Rs 28,777.45 crore yesterday.
A total of 15,103.58 lakh shares changed hands in 9,429,756 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,29,77,650 crore.